Are you starting an ASX share portfolio for the first time? If so, I hope you discover, like me, that share investing not only is enjoyable but can also be a great way to supplement your income.
Or, maybe you are looking for some good share picks to add to your portfolio?
Either way, here's why I believe the following 3 ASX shares could be good options for you.
Woolworths Group Ltd (ASX: WOW)
It's not surprising that Woolworths is a very familiar brand name in Australia. The grocery retail giant is now Australia's second-largest company based on revenue.
Woolworths has been reasonably successful at winning back customers from its rival Coles Group Ltd (ASX: COL) over recent years, achieving this with a strategy focusing on quality, service and competitive pricing.
Unlike many other retail companies, Woolworths' revenue stream has been very resilient throughout the coronavirus pandemic. Supermarket stores have remained open because they provide an essential service. And Woolworths also delivers consumers a competitive online offering.
Another benefit is that Woolworths pays investors a forward annual dividend yield of 2.6% that is fully franked.
Macquarie Group Ltd (ASX: MQG)
Macquarie Group is a global financial services business headquartered in Australia. The company's strategy focuses on its international investment banking operations.
I think Macquarie has become a more balanced and diversified business over the past few years. Previously, it was too focused on a small product set and got into trouble during the 2008 global financial crisis. However, in the current crisis triggered by the coronavirus pandemic, I believe Macquarie is now better positioned to weather the storm.
Macquarie currently pays investors an attractive forward annual dividend yield of 3.5%.
Vanguard MSCI Index International Shares ETF (ASX: VGS)
My third recommendation is not an individual company, but what is referred to as an exchange traded fund (ETF). Vanguard invests in a broad basket of shares that are listed in range of overseas markets.
Vanguard's 5 biggest listings include tech giants such as Apple Inc, Microsoft and Amazon. There is no doubt that the ASX offers investors lots of great options. However, by investing in this ETF, you will get exposure to a broad range of quality shares that are not available on the ASX as individual listings.
Foolish Takeaway
I believe Woolworths, Macquarie Group and the Vanguard ETF are solid options for anyone starting their ASX share portfolio or building on previous investments.
Keep in mind, it's a good strategy to expand your portfolio over time. This safeguard ensures that you have enough market diversification and not too much investment weighted on any individual listing.
